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June 25, 2023
Algorand spikes to $0.139 gaining $0.007.
The Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. Price action overcame a known Fibonacci resistance level at $0.134 by around $0.005 with prices hammering out a $0.133 – $0.141 session range. Algorand has crossed the upper Bollinger Band® at $0.138, a potential sign that further gains are to follow. Algorand could be slowing down soon as it approaches resistance at $0.136. Of course, crossing it might suggest further gains are ahead.
Overall, looking at the technical analysis landscape, it seems Algorand might continue pointing upwards in the short term.
Other markets are also showing gains as FTX Token gained 9.54% and is now trading at $1.36. Having closed the previous session at $4.74, UNICORN Token USD is up 13.16% today to currently trade at around $5.36.
Meanwhile, Bitcoin Cash is down to $200.83, losing $13.47, after closing at $214.31 in the preceding trading session.
Algorand hit a significant low of $0.111 around 15 days ago, but has since recovered 20.04%.
